One of South Korea's largest brokerages, Korea Investment & Securities, plans to acquire shares of Coinone

According to TechFlow, on April 3rd, Herald Economy reported that Korea Investment & Securities, a leading South Korean brokerage firm, is conducting a preliminary review of acquiring shares of Korea's third-largest crypto exchange, Coinone. The company is currently working to persuade financial regulatory authorities and the National Assembly's Political Affairs Committee. The steps are similar to the previous acquisition of Korbit by Mirae Asset Group. Coinone's current CEO, Cha Myung-hoon, holds 53.44% of the shares, but upcoming regulatory changes may set a cap of 15%-20% on major shareholders, creating an entry window for external buyers.

Although Coinone has increased its market share to double digits, it has recorded operating losses for three consecutive years. Previously, other domestic companies expressed interest in acquisition, but disagreements over pricing prevented an agreement. Industry insiders note that if Korea Investment & Securities acquires about 20% of the shares, it will not affect Cha Myung-hoon's management rights. The specific price has not yet been determined, and the process is still in the early stages.

Coinone stated that it has recently received multiple cooperation proposals but has not yet finalized the specific cooperation mode, method, or partner. Market expectations suggest that the previous Mirae Asset Group's acquisition of Korbit for approximately 133 billion KRW will serve as a reference for pricing.